Finland's Citycon has reached an agreement with Swedish construction company Skanska to build a new retail centre in the Tampere region of Finland. The retail centre's leasable area totals around 12,000 m2, of which approximately half will be leased to discount store chain Tokmanni.

Finland's Citycon has reached an agreement with Swedish construction company Skanska to build a new retail centre in the Tampere region of Finland. The retail centre's leasable area totals around 12,000 m2, of which approximately half will be leased to discount store chain Tokmanni.

The project investment totals around EUR 16.6 mln and initial net yield on the investment will be 7%, Citycon said. Negotiations are underway with other prospective tenants and the new retail centre is scheduled to open during the autumn of 2007.